>> from bloomberg headquarters in new york, this is bottom line. the intersection of is this an economics -- business and economics with a mainstream perspective. to our viewers here in the united states, and those of you joining us from around the world, welcome. theby holliday crunches numbers from dave and busters. they had an ipo. we will hear from the ceo. and the aig trial.

it has been a roller coaster ride for the week among but it has slowed down today. we have been correction free for since thee years summer of 2011. perhaps we are making up for lost time. in terms of where we are right now, the dow is making its smallest move in four days. we are measuring in terms of small moves. pressure,r some little changed at this hour. did surpass its high for the year. in terms of where we are for the week, it is the fourth straight weekly loss for the s&p 500. the dow had seen consecutive days of triple digit point moves which we have not seen since 2011. earlier about the

catalyst behind the sudden weakness this week. that theeve fundamental reason for weaker prices in the last few months has been essentially the rate of recognition by the investment community that global growth is not accelerating, but slowing down. >> we also spoke with the head of equity strategy. looking ahead, a lot of people are saying look at the credit market indicator as a good idea of where sentiment is headed because credit is the best is move it -- fastest movie asset class. can see it is up for the four rth straight week.

>> what is oil doing today? twot turned positive about hours ago. you can blame the strong dollar for part of it, but there are other fundamental reasons. supply demand mismatch. itders are talking about reaching as low as $80 a barrel. it continues to sink. energy stocks are the worst performers for the week, about 3.9% down. >> thank you. and what did you write to the top stories of the day. we kicked it off with shares of tesla actually falling the most in three weeks after last night's unveiling of an all-wheel drive model s. here is elon musk on shares from his interview with maybe let -- betty liu. >> i do not follow the stock

that much. moves for random reasons, and if it was a mood barometer, it is not a happy ride. >> the newest version has two motors, one for each axles, and safety features that can accelerate him a change lanes, and stop the car without any driver input. the 691 horsepower regime does a 0-60 in 3.2 seconds. >> you can optimize between the two motors and have them operate in the more efficient receive more of the time. the net result is that we are a bill to get more highway range just by going to two motors. in every other system you lose range. >> the starting price for the $127,000.ersion is

but before you check any of the other option boxes. blackstone says it is spinning off its investing banking into a separate company. they will merge into a new public entity. they are doing this to reduce conflicts of interest with its thousands management is of people poured into a main road in hong kong to show support for a pro-democracy road test, after your officials called off talks with student government leaders. student leaders have vowed to stay until they respond to the demand for free elections.

we will continue to cover those for you. back in the was witness stand, the third and final aig bailout architect. we were inside the federal claim courtroom. like geithner, not really m revealing much. you're absolutely right. he did say it was not his intention to punish aig thegement for ms. managing company when the board of governors authorized that bailout loan back in september of 2008. but other than that it was mostly the same matter of fact, and at times dismissive bernanke. was very clear that he was not enjoying his questioning from the plaintiff's attorney.

when it came time for the governments in turning -- crossment's attorney examination, his mood lifted him and there was a lighthearted moment when he was asked to crisis how the financial started. he answered so passionately that the court reporter asked him to slow down, and he said he did not think he could. everyone had a good laugh. >> what is the legal team trying to prove? >> a big case, a lot of money at stake. did the fed have the legal authority to take equity in aig? they got 80% stake in th exchange for bailing out the insurer. also, for the bailout terms

putatively harsh compared to other borrowers? -- were the bailout terms putatively harsh compared to other borrowers? that is the line of questioning we have seen from david boys all week. no smoking gun so far. that aignments take is was treated differently, but they were in insurer, not a bank. they are saying that they are better off with the bailout as it was as is happened. this has been an incredible saga, and we're looking forward to seeing how the ruling comes out. break,oing to take a and when we come back dave and buster's ipo happened and we will have the first day of trading.

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>> dave and buster's is officially in play. the casual dining chain began trading on the nasdaq today. we will hear from the ceo in just a moment. shelby holliday is here with an update. symbol --ticker >> it is play. dollaropened at $17, a head of the ipo pricing, and the been trading above $70 for most of the day. $17 for most of the day. happy ever been to dave investors -- have you ever been to dave and busters? >> yes i have. the fact that they

are a restaurant, a majority of the revenue comes from games. it is kind of like a chucky cheese for adults. booze.they serve >> yes. and they put up about 40 screens in each restaurant. is verye's thing interesting because it is not your typical restaurant. it makes it more exposed to the economy, and is more reliant on discretionary spending. but dave and buster's and sales have climbed in the past for years. mixedwas a lot of speculation going into the ipo. some investors said stay away, others said was a great deal if it opened at the low-end. is trading up almost

to $18. it had been $18.43 today. have you been to a dave and busters? >> not since high school. they think they can get that through hundred location mark over the next few years, we will see how that plays out. we are joined by the ceo. the ipo.tulations on what do you do about customers who have not been there for four or five years, how do you get the multiple visits? >> we continue to offer a great rod at. we are largely an entertainment company, more than half of our resident is the amusement side of our business and we can reach out and talk to tople about all of the races

come to dave and busters. we tend to package our offerings together. games, newer new food, and beverages all at one time. it gives the customer a reason to come in. we will usually overlay some promotional activity. as that has worked recently two play games free -- is to play games free. we added this boards portion of what we are doing. ports portion of what we're doing, and we did that so we could increase the guangxi which are guest is the -- the frequency with which are guest visit us. it has more of a casino atmosphere than chucky cheese. are you purposely skewing it towards adults? our kids not allowed? what is the demographic you're

going after? really 21-39. we are looking for young adults. we are fond of saying that everybody wants to be 25. if you're 15 coming want to be 25, and few are 45 you definitely want to be 25. the youngtarget adult. we have a significant family business. we try to play that balance and do not do anything with the alienatelts that might the 36% of our parties who come in all our family -- who are family. >> what equally to do with the money? oure are going to pay down term debt. and as a result we are able to really reduce the rate, we are in a favorable rate as compared to what we were paying earlier. that gives us the dignity to have a tremendous amount of free cash flow and we're going to redeploy against building more stores.

we believe we can do to hundred stores in the united states and in the-- 200 stores united states and canada. ofhave a real clear line sight to our 2015 development as well as her 2016 development. was surprised to see me today for doorbuster as a ceo -- see neither dave nor buster as a ceo. what is your position? in 2006 recruited back by buster. him.eded him -- succeeded join the company, i was looking for something that was more differentiated, and that is why i ended up. withat do you want to do this money that will make the

business different than it is today? things is this gives us a tremendous amount of financial flexibility going forward in terms of how we redeploy our free cash flow. 10%ant to grow at a rate of in the united states and canada, going forward we are also exploring international development, and working will have a art and are signed up during this fiscal year -- we think we will have a partner signed up during this fiscal year. i i love video games, and spent a lot of time in the arcade is a kid. but i now have an xbox, and playstation, and we, etc.. how many titles, for an like yours, come out for a standup version of the game? a great amount of choice for us.

createll work with us to a in arcade version. games, andemption those redemption games are the ones that issued tickets that you can redeem at our winner circle. that has everything from candy and gum to ipads. >> like ski ball. >> yes. that is a game that people have loved and always loved. that is going to be in most of our stores for the foreseeable future. ones that have an evergreen nature to them. >> thank you. brief break, and then we will get an update on the markets. ♪

>> global disinflation is one of the big fear is driving the market selloff we have seen this week, especially overseas. michael mccain says it is a real reason for concern, it is driving fed policy as well. can create some inflation in this economy, and right now it is failing. prices, halfmport a percent, part of a larger pattern where we have seen the animal rate of inflation fall from 1.7% down to 1.5% the past three months. core pricing index does

not include energy. it does not include any of the things we need to live. >> exactly. and that is not just a problem, it is an issue. here is the problem. over the past two months, inflation expectations have just taken a nosedive. worry abouts do not the level of inflation, because that is a lagging indicator. what they worry about his expectations, because business and consumers make decisions on what they think inflation is going to be. if inflation is going up, you might want to buy now, but if it is falling they will stop shopping and wait for prices to go down. fear of global deflation is trumping the better economic data that we have seen. since the financial crisis, every time the expectations rate has fallen like his, we get another form of qe from the fed.

but now they're getting ready to raise rates, which boosts the dollar and pushes down on inflation and pushes expectations down further. >> does this keep their hands tied? >> they would say no. they are data dependent, and we're months away from any decision. because they have raised their forecast on the idea that inflation will rise, if investors do not believe what fed officials are saying, they will lose credibility. and we could have a violent reaction in the markets. they are noticing that. development,usual said charlie evans. thehe also said that maybe markets are wrong about what is going on here. in my mind, the are making a mistake when there is a mismatch between the central bank and with market is thinking, and

sometimes that does not end well. >> 1994. no one wants that again. bloomberg is on the markets. howet's take a look at things are trading with 90 minutes to go in the u.s. trading day. we might end the week on a call note.te -- calmer we will get reads on retail sales, and housing starts next week. the nasdaq is the weakest of the bunch. has enteredchnology a corruption. preliminary quarter sales that trailed forecast because of slowing demand in china. disappointment after elon musk revealed the all-wheel drive model as and driver assisted

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>> welcome back to bottom line, i am matt miller in for mark crumpton. su keenan joins us with the report. >> what we are looking at is a big turnaround for oil. it was down 2.5%. now we are closing flat. report's of isis crossing into a baghdad suburb is providing a pop. crossing into a bear

market as of yesterday's it had been on track to post the biggest weekly drop since january. the overall issue has been a potential global glut. move.s the one-month are future contracts collapsing because demand is swelling. at a time when output is expanding everywhere from u.s. to russia, where this oil go from here? it is easy for me to say. on track for at least touching 80, if not dropping below that. there are estimates for below 80 oil. gasoline taking a tumble. it is the only part of the complex that is down.

a big drop over the past two weeks. big end ofe is a year break for consumers, aaa saying the nationwide average has been seeing a drop to the lowest level since september. in new york we are looking at the four-year lows for pump price. >> i feel like i pay way too much for gas. i guess i have been in america too long. the strong dollar is putting pressure on a commodities across the board. were definitely seeing that before the late day news. the whole complex has been under pressure. a quick look at the biggest gainer in farm futures. 33% on the day -- up 3% on the day.

october through december is a key part of this time. >> su keenan with our commodities report. raised projections for u.s. corn and soybean production. this is due largely to favorable crop conditions in the midwest. the dollar must have an effect on these as well. u.s. dollar has been in effect because it is such a major export player. dealing with some sluggish internal demand as well as external demand. yields coming forth from the season. you are seeing some of the lowest prices projected for a long time. wasnteresting market mover we. we cut estimates for inventories next year.

that supported those prices a little bit. a lot of wheat will see livestock. there is a little bit of market substitution here. we'd is going up a little bit. -- wheat is going up a little bit. bigger.an crops will be what does that mean? are things going to continue growing if there is not a lot of internal demand? is coming in now. the usda is revising its harvest upward. some supply situations, some of these farmers are getting problems -- are having problems getting their crops to market. you could be looking at rising surpluses over the next couple of years. they are hoping there will be an expansion.

this will take a couple of years to work out. >> you saw the estimate for sugar inventories go up 51%. this is tied to imports from mexico. this is something policy folks watch closely. there are concerns the impact they are having on u.s. producers. today was not good news for that goal. >> what are the companies going to do now that the farmers are not getting as much money or very much at all for their crops. >> these commodities support a

rural economy. they seem this coming for a while. we are entering a change in farm economies. that has been a large area for small towns across america. >> thank you. when we come back, mind the gap. we will see what is being done to close the gender and racial gap in tech knowledge he. -- technology.

>> argentine economy minister says his country has access to private financing from investors.

an embassy in washington yesterday, he said he met with five or six investors interested in providing loans. argentina has no plans to accept the offers. the country still has access to credit. in its second default in the past 13 years. is your latin america report. the s&p 500 is on pace for a nearly 2% weekly drop and the nasdaq is heading for its worst week since april. trish regan joins me now. it is bad here and even worse overseas. wonder what it means for the fed. are we going to see that give us more qe wacko we have a market that is so dependent on the federal reserve. focusedinvestors are so

-- when they realize europe is going to have an effect on us and maybe there is something -- there is nothing else we can really do about it, that is when you start to see a lot of negativity. i think they are really looking for directions. >> the imf was telling us that list the entire world. it seems like the rest of the world is going to bring us down. the rest of the room is really struggling and we are dependent on those markets to sell those goods, i don't know how much you can inflate yourself from what is happening in the rest of the world. the dollar is going to continue to rise and make it harder and harder to export goods.

i don't know how long we can keep it up in supporting the rest of the world. we have the innovation and a lots of good stuff going on. some point i think fed policy is going to come into play. there is not that much more they can do. >> a lot of investors put more faith in mario draghi then maybe they should have. this is a struggle we have had in the u.s.. the fed has to do all the heavy lifting. mario draghi is trying to do the same thing but it's looks like the germans aren't going to let him do that either. >> it is a mess. you have a union that is dependent on each other in terms of monetary issues. forget it. you are never going to get anything done here.

that has always been a mess and a bit of an experiment that i don't think anyone thought ultimately would end well. is so much easier for us to fudge our economic data. you have to get all of the different countries in fault and they aren't all willing to do the same thing. we have a big day. we will talk about these markets and whether or not we have seen a return to volatility. we are also looking at the funding that is needed. i do have a lot of questions about oil because that sovereign wealth is dependent on oils for their revenue. i should point out that as of the latest update there are 20 total reported cases in the country of nigeria.

they have their soldiers into liberia for possible aid there. a lot of issues on the ebola front and issues with the economy. >> it seems like the media was into the ebola and isis thing. >> we are not giving up. >> thank you for joining us. we are going to look at another serious issue. were told don't worry about asking for raises, they will come to you. right. saye a good girl and don't anything. >> don't speak unless you are spoken to. stay with us.

ceo wasmicrosoft

asked for a device for women who are uncomfortable asking for a raise. he said do not ask for one, have faith in the system instead. it's good karma. sure. he has apologized since then and said in a tweet he was in articulate. kathleen phineas, founder of digital undivided, wants to bridge that diversity gap. even though i am a car not, this is still my favorite story of the day. how did they react? >> it is definitely a fail to say -- it is literally one of the largest conferences of women in computing. you probably wouldn't want to

see something like that. that is something we have been struggling with quite a bit at digital undivided. >> how do we increase our participation, not only as consumers but also as innovators? microsoft recently did a survey of its own staff and found that it is incredibly male, incredibly white. anyone who can do something about that i think it could be satya nadella. >> there is not a pipeline that currently exists for people who do not sit into the traditional idea. there is no pipeline for people outside of that. unfortunately most of the people our outside of that. we are doing,

figuring out how we get diverse folks, women, people of color into a pipeline so we can avoid situations like what happened this week. to be fair he said he wants to solve this problem area there simply aren't enough women who are majoring in science, technology, engineering, and mathematics. is the prthe issues needs to match the funding. there is a hitting group of women developers that women haven't found. there isn't a group of hidden black to hiding out in harlem. you have to fund and build the pipeline. that is going to take money and real resources. the question is are you going to put your money where your pr is? >> i think to be fair to satya nadella, speaking of this specific incident, it did not

come out to me as a sexist thing that as a jerky manager thing. he would have given the same horrible advice to men. is that fair to say? >> i'm not exactly sure but there is probably some truth to that. unfortunately he chose the wrong venue. you have to be careful when you are speaking to a group of 8000 women. >> which companies do you see who are making the right moves? who is doing this right? >> i think a lot of great companies, facebook is doing a lot. maxine williams is the global head of diversity. andorra is also doing a lot of great stuff. what does it mean to be microsoft in today's tech world? you working with companies in order to solve this

problem? the sides raising money to make this happen, what kind of strategy are you doing? >> we are focused on building the pipeline from the very beginning. we do most of our work before the conference. . we spend a lot of times with our fellows, developing him and making sure they have companies investing real investment dollars. it is significantly higher than the traditional rate. >> excellence. thank you for saving some time with us. obviously a very important subject. stay with us. another check of the market. bottom line returns in just a moment.

>> latest headlines streaming on your tablet and bloomberg.com. that does it for this edition of bottom line. have a great weekend. be back on monday. on the market is up next.

>> it is 56 minutes past the hour. we are on the markets and im scarlet fu. we are pushing the final hour of trading. 500 -- thek the s&p nasdaq off by three point 5%. crude oil entering a bear market. from its peak. crude oil could head to $80 per barrel. while stocks and oil are going to close down the week against the vick's, which tracks the prices investors pay, is moving higher. they poked up from 14 and a half of last week. we have a look at the way you can invest in this area you are an expert in exchange rate funds. aren't vicks etf's a popular vehicle? >> yes, for traders.

>> if you are a traitor these are very popular. one is the short-term vicks futures. this trades more than on mobile every day. this is a very highly used product. the bad news is the fix futures do not do a good job of tracking the vicks pre-at these products are slightly misunderstood. in terms of futures, it does fine. index was up 24%. >> why the discrepancy? >> they do not track the index perfectly. you are almost getting -- the further you go go the less it

tracks the index. >> what about an etf that just tracks the vicks? >> there is no such thing. >> what if they wanted to attract the vicks? >> for your parents i would recommend being completely diversified. get some treasury bonds. there are some products that have come out lately that do a little bit of it for you. tail risk hedged large-cap etf. invested in large-cap stocks. the other 15% is a futures position. it will go long or short depending on what signals are telling him. this is essentially a lowball played -- lowball way to play the market. this is down 1.5%.

the limit for +. a product like that is going to you always has something to >> in terms of how many different ways to america's markets, how many etf are out there? >> about 150 inverse etf's. it becomes popular. there are 25 related case. as you want to the short-term >> thank you so much. he is our etf effort to etf expert. street smart with trish reagan is up next.

>> i am trish regan. this is treat smart. we have a whole lot coming up on today's show. we aal